BOSTON – (BUSINESS WIRE) – April 22, 2021–
Toast, the fastest growing restaurant management platform, today announced a partnership with the US Small Business Administration (SBA) to give customers access to funds raised through the $ 28.6 billion Restaurant Revitalization Fund (RRF) become. This partnership with the SBA is expected to provide Toast customers with a simplified application process for RRF grant applications until May 2021.
This press release contains multimedia. The full version can be found here: https://www.businesswire.com/news/home/20210422005814/en/
Toast Announces Partnership with U.S. Small Business Administration to Bring Restaurants Access to $ 28.6 Billion Restaurant Revitalization Fund (Photo: Business Wire)
The food service industry was one of the hardest hit industries during the COVID-19 pandemic. To help industry and small restaurants, the American Rescue Plan Act set up a $ 28.6 billion restaurant revitalization fund through the SBA.
“Toast is proud to be part of the story of the Restaurant Revitalization Fund. We have been writing letters to Congress since March 2020, actively campaigning to secure this funding for the restaurant industry, and partnering with groups like the Independent Restaurant Coalition to stand up for restaurateurs and their employees during the COVID-19 pandemic, “said Nick DeLeonardis SVP & GM, Payments, Loans and Payroll at Toast. “Our actions have helped bring about meaningful change and have enabled us to support our customer community when they need it most. We are very excited to be working with the SBA to gain access to critical funding for restaurants as the industry nears a recovery in the months ahead. “
For the first 21 days of the SBA funding program, the SBA will prioritize the processing and allocation of funds to companies that are at least 51 percent owned and controlled by women, veterans, or socially and economically disadvantaged people. Applications from companies that do not qualify for this priority period will be submitted for SBA review after the priority period.
Find details on company eligibility criteria, prioritization, eligible expenses, application process, and more. Restaurant owners and operators can learn more about Toast and schedule a personalized demo here.
Introduced in 2013, Toast is democratizing technology for restaurants of all sizes. Toast was developed exclusively for restaurants and is based on the passion to enable their success. It connects employees, businesses and guests on a user-friendly platform so that restaurateurs are always one step ahead of a rapidly developing hotel market. Tens of thousands of restaurants partner with Toast to increase sales, streamline operations, retain great employees, and create enthusiastic fans. Toast was named Fortunes 2020 Best Workplaces in Technology, 2020 Forbes Fintech 50, 2020 Forbes Cloud 100, Ernst & Young’s Entrepreneur of the Year® 2020 List – National Overall Winner and the 2019 SXSW Interactive Innovation Finale. Learn more at www.toasttab.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20210422005814/de/
CONTACT: Karen DeVincent-Reinbold
Sr. PR & Communication Manager
KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: HARDWARE RETAIL WHITE HOUSE / FEDERAL GOVERNMENT OTHER PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY FINANCIAL BANKS PROFESSIONAL SERVICES PUBLIC POLICIES / GOVERNMENT OF OTHER PROFESSIONALS / RETAIL
Copyright Business Wire 2021.
PUB: 04/22/2021 12:00 p.m. / DISC: 04/22/2021 12:01 p.m.
Copyright Business Wire 2021.